FirstCry Files DRHP With SEBI, Plans To Raise ₹1,816 Crore Through IPO

FirstCry, a company that sells things for mothers and children online, has taken a big step towards selling its shares to the public. They filed a DRHP with SEBI, the market regulator. 

This means they're getting ready to sell new shares and raise Rs 1,816 crore. BrainBees Solutions, which owns FirstCry, is doing this. They also plan to sell some old shares in an offer-for-sale, about 5.4 crore shares.

Big investors like SoftBank and Premji Invest are planning to sell a part of their shares. SoftBank might sell 2 crore shares and Premji Invest about 86 lakh shares.

FirstCry will use the money it gets to expand its business, both in India and abroad, and to improve its technology and marketing. They want to open new stores and warehouses in India. 

They also have plans to grow in Saudi Arabia by opening stores and warehouses there. Besides, they'll put money into a company called Globalbees Brands and spend on marketing, technology, and buying other companies.

In the last financial year, FirstCry made Rs 5,632 crore from selling products, but they also lost Rs 486 crore. This loss is much bigger than the previous year. SoftBank, a big supporter of FirstCry, has already sold shares worth about Rs 630 crore.

Many other investors are also planning to sell their shares in this IPO. This includes big names like Mahindra & Mahindra, TPG Growth, and Ratan Tata. Ratan Tata is selling all his shares in FirstCry.

SoftBank is the biggest outside owner in FirstCry. Kotak, Morgan Stanley and a few other big financial companies are managing this share sale. FirstCry's business has grown a lot in the last few years, but they are still facing some financial challenges.